Luxembourg house prices still rising

House prices may be high in Luxembourg but rates are not rising as quickly as in Ireland, Estonia, Latvia or the UK, it would seem.

21.01.2015

House prices may be high in Luxembourg but rates are not rising as quickly as in Ireland, Estonia, Latvia or the UK, it would seem.

The latest Eurostat report showed that house prices in Luxembourg rose on average 4.9 percent in autumn last year, compared with the same quarter in 2013 and they rose 1.3 percent compared with the summer.

Ireland reported the highest increase at 15 percent, followed by Estonia (13.2 percent), Latvia and the UK (both with 11.7 percent).

A localised report from Statec suggested that existing or “old” houses in Luxembourg saw a sharp 7 percent increase in sale prices in autumn compared with the same quarter in 2013. Citing prices registered with the notary, existing houses cost on average more than half a million euros (547,287 euros).

Naturally, prices were subject to geographical variations and housings in the district of Luxembourg City went for more than three quarters of a million euros (762,423 euros), 86 percent more expensive than similar properties found in the north of the country where the average price tag was 409,948 euros.